secwatch.observer — SEC 8-K summary
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Issuer:     FIRST HORIZON CORP (FHN)
CIK:        0000036966
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0000036966-23-000097
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Horizon CEO Jordan enters new 5-year employment agreement with increased compensation
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- CEO D. Bryan Jordan signs 5-year term through Aug 3, 2028; annual base salary raised ~6% to $1,125,000.
- Long-term incentive target raised from 400% to 450% of salary starting 2024; special $5M equity award (60% PSUs, 40% RSUs) with 5-year cliff vesting.
- Prior change-in-control severance agreement terminated; replaced by Executive CIC Severance Plan at 3x benefit multiple, eliminating tax gross-up.
- Mandatory retirement policy waived during term; non-solicitation, confidentiality, and non-disparagement covenants apply.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36966/000003696623000097/0000036966-23-000097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36966/000003696623000097/fhn-20230803.htm
  HTML page:      https://secwatch.observer/filing/0000036966-23-000097

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